LNP leader Lawrence Springborg says the party will discuss who will form the shadow ministry on Tuesday. Photo: Renee Melides

The LNP could have formed its own minority government if it received likely support from Katter's Australian Party MPs Rob Katter and Shane Knuth and won the contested seat of Ferny Grove in a fresh election.

The seat, which was won by Labor's Mark Furner, came under scrutiny after it was revealed the Palmer United Party candidate Mark Taverner was ineligible to run because he was an undeclared bankrupt.

LNP State Director Brad Henderson said, after receiving advice, the party wouldn't refer the Ferny Grove result to the Court of Disputed Returns.

"The LNP will now focus on providing a stable and competent alternative government for the people of Queensland over the course of the next parliament," Mr Henderson said in a statement.

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"The LNP places on record its thanks and appreciation of the contribution made by its candidate and former Member for Ferny Grove, Dale Shuttleworth and his family."

The Electoral Commission Queensland initially said it would refer the result to the Court of Disputed Returns, but later said it had changed its view.

Opposition Leader Lawrence Springborg had previously wanted to lead a caretaker government while the issues in Ferny Grove were sorted out, potentially taking months.